Update: Reid:deal reached on expanding homebuyer tax credit–UE vote within 24 hours; Unemployment Extension Update: Reid now trying to put homebuyer tax credit back in UE bill?? Senate to proceed to UE bill @930am EST; Bill passes cloture 87-13

Update 5: 11/2 newer new thread following UE vote here

Update 4: New thread following UE vote here

Update 3: 430pm EST: Breaking on CNBC- Diana Olick says Harry Reid’s office confirms a deal has been reached on the homebuyers tax credit, It WILL BE EXPANDED AND EXTENDED to include more than 1st time buyers, and IT WILL BE ATTACHED TO THE UE EXTENSION BILL

Reid says he expects a vote on said UE bill WITHIN 24 HOURS.

More as it becomes available…

(Diana Olick’s RealtyCheckBlog, earlier compromise report with details, details moved to Housing Update post.)

Update 2: 10/28: 2:18pm EST: Okay, it appears as though Reid is trying to put the stoopid homebuyer tax credit, (that has all the arguments and associated delays attached to it), BACK into the UE EXTENSION BILL!! ARRRGLE!!

This will delay the UE vote!! The Dems are playing chicken trying to get the homebuyer credit passed WITH the UE, and the GOP is now back to trying to add EVerify because apparently legal immigration/citizenship status is NOT CURRENTLY CHECKED IN UE BENEFITS. Fabulous!

this totally sucks. For the record MiM is at the beginning of our UE bennies so we are not personally impacted by this delay (yet!) but MILLIONS OF AMERICANS ARE. WHAT IS THE PROBLEM WITH THESE BUFFOONS?!?!?

Is anyone else starting to wonder if this is frakkin deliberate? I mean the extension will result in the numbers of those collecting UE going up in the DOL reporting that the media cover (the REAL number of those unemployed, including those who have fallen off benefits is RARELY mentioned in the papers and MSM). And it had occurred to me months ago that Team TOTUS was sort of screwed either way, if they extend UE it adds to the bad numbers reported every month in the headlines, but if they do not extend it the electorate will be even more pixxed in the elections.

I mean what was the point of the entire exercise in removing the homebuyers credit from the UE bill yesterday if they were going to add it back in today? It is a pixxing contest on the Hill while real people suffer IMO.

Once they pass this thing with then homebuyers add on it will go to the House where THEY will debate it because they have NOT passed a homebuyer tax credit in the House. Whereas the UE stand alone HAS been voted on in the House previously so little to no debate would be required to get the Senate version okayed by the House and to the desk of TOTUS for signing.

Their apparent decision to  dxck around and play Let’s Make a Deal with holidays approaching and people in serious trouble is totally unacceptable. Please ask everyone you know to VOTE in every election, these Critters need to understand that regular Americans will respond to their actions in the only way that impacts them, by voting.

And CALL YOUR CRITTERS IN THE SENATE and remind them millions of Americans ARE WAITING FOR THIS UE EXTENSION VOTE!

Reid to BloombergNews TODAY:

A proposal to extend the $8,000 tax credit for first-time homebuyers as part of an unemployment- benefits measure has significant support, Senate Majority Leader Harry Reid said.“There’s general agreement by a significant number of senators, Democrats and Republicans” for adding the tax credit to the measure extending unemployment benefits, Reid said today. The measure is being held up by Republican demands for votes on unrelated amendments, the Nevada Democrat said.

“Let’s get this done and we’ll move on,” Reid said.

Senate Minority Leader Mitch McConnell, a Kentucky Republican, called the dispute an “unnecessary impasse.” Most lawmakers support the unemployment measure as well as the homebuyers’ credit, he said.

“We’re not that far away from an agreement that would allow us to expedite consideration of the bill,” McConnell said. “It is routine for there to be amendments offered by both sides that are not directly related to the bill.”

Lawmakers are considering a $2.4 billion measure that would extend unemployment benefits by 14 weeks in all states and provide another six weeks of benefits in states with the highest unemployment rates.

A number of lawmakers have been pushing to attach an extension of the homebuyer tax credit beyond its Nov. 30 expiration date. Reid said lawmakers also agree on another proposed amendment providing a tax break to money-losing companies….

*The Monroes courtesy of djpete113

Update: 10/28:

The Senate convenes at 9:30 a.m. ET and will resume the motion to proceed to H.R.3548, Unemployment Benefits Extension Act of 2009, post-cloture…

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Okay it passed cloture  🙂 now we need the final vote.

MarketWatch:
The Senate moved closer Tuesday to approving an extension of unemployment benefits by an extra 20 weeks. The Senate agreed on an 87-13 vote to bring the measure to a final vote.

ProgressIllinois indicates the Final Vote has not been scheduled:

..If it survives this procedural hurdle — which effectively limits debate on the measure — the full chamber will still have to vote on the final bill.  (When that vote will take place is unclear at the moment.) Then that version must be reconciled with the less-generous House proposal and approved one final time…

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BREAKING UPDATE:

BREAKING NEWS: SENATE TO DELAY TAX VOTE, UNEMPLOYMENT MEASURE WILL STAND ALONE

Senate Majority Leader Harry Reid (D-Nevada) announced this afternoon, Tuesday October 27 that an extension of the $8,000 first-time homebuyer credit and more generous net operating loss carry-back rules for money-losing businesses will not be brought to the Senate floor for a vote. The unemployment insurance extension is still on the calendar and will be brought up as a stand-alone measure. HAI will provide updates as more information is released from Capitol Hill.

Update: Status update courtesy of WashingtonIndependent:

(…) The Senate is set to vote tomorrow to begin consideration of the proposal — a procedural move requiring 60 votes to pass. But that’s just be the start of the process. Without an agreement over the amendments, Democratic leaders will have to stage a second cloture vote in order to move to a final vote on the bill. The series of procedural steps could easily push that final vote to the end of the week…

Finally. One phrase for the Senate – LETS GO ALL THE WAY!

TheIndependent:

Just in from the office of Senate Majority Leader Harry Reid (D-Nev.): the upper chamber will hold a procedural vote next Tuesday afternoon to proceed to legislation extending unemployment insurance (UI) nationwide.

The cloture vote is indication that Reid and GOP leaders failed to reach an agreement on amendments to the bill, which would extend UI benefits by 14 weeks in all states, and an additional six weeks in states where unemployment rates top 8.5 percent.

Party leaders have been haggling for weeks over amendments, with GOP leaders urging votes on provisions addressing their concerns over immigration and ACORN, among other issues. Republicans also wanted to fund the UI extension with unspent stimulus money instead of extending a business tax that’s slated to expire, as Democrats have proposed….

*Sly Fox courtesy of hart70